Chinese Companies Raised $1.2B Via 18 IPOs In May

The pace of Chinese companies’ initial public offerings continues to slow down in May, with a total of 18 companies having raised an aggregate of RMB8.2 billion (US$1.2 billion) in the month, compared to 23 companies raising RMB6.4 billion the month before, according to data released by ChinaVenture.

Alibaba Acquires Zhen Fund, CBC-Backed 365Fanyi

Alibaba Group Holdings Limited has acquired an online translation services provider 365Fanyi, which is backed by Zhen Fund and China Broadband Capital (CBC), according to the company’s website indicating its ownership by Alibaba. The acquisition of 365Fanyi, which has 500 specialized translators and interpreters, will help Alibaba as the Internet giant focuses on international expansion going forward. Financial details of the deal are not disclosed.

Zero2IPO, CDH-Backed Wowo Increases US IPO Size To $65M

Beijing-based Wowo Limited, which operates Chinese group-buying site, has increased its planned U.S. initial public offering size by 62.5% to US$65 million, according to a security filing. On January 9, Wowo filed with the U.S. Securities and Exchange Commission to raise up to US$40 million in a NASDAQ IPO.

COFCO Plans IPO Of Private Equity-Backed Agriculture Assets

Beijing-based agricultural conglomerate COFCO Corporation is planning an IPO during the next three years to list the agriculture assets it acquired together with Chinese and international private equity investors this year, according to comments made by COFCO’s CEO Frank Ning during a company press conference. At the same time, COFCO says that it has completed two major overseas acquisitions: the US$1.289 billion acquisition of 51% of Dutch grains trader Nidera announced in February, and a US$1.5 billion deal to buy …

Emerging Market IPOs On Course For A Blockbuster Year

Companies from emerging markets have completed IPOs raising a total of US$41.4 billion during the first three quarters this year, up 155% from US$16.2 billion for the entire year of 2013, making 2014 set for a blockbuster year in emerging market IPOs, according to data released by global law firm Baker & McKenzie. Bolstered by the US$25 billion IPO of Chinese e-commerce giant Alibaba Group Holdings Limited, capital raised by emerging market companies across borders has already surpassed any year …

Venture-Backed Sky Solar Plans $173M US IPO

Hong Kong-headquartered solar park developer Sky Solar Holdings, Ltd., backed by IDG-ACCEL China Capital, has filed for an IPO on the NASDAQ to raise as much as US$172.5 million, according to a securities filing. The company is planning to sell 12.5 million American Depository Shares (ADS) at US$10 to US$12 apiece. IDG-ACCEL China Capital, a venture fund established jointly by IDG Capital and Accel Partners, bought convertible promissory notes issued by Sky Solar totalling US$5 million in 2012. A year later, …

PE-Backed Hunan Juewei Files For Shanghai IPO

Changsha city, Hunan province-based Chinese snack food maker Hunan Juewei Food Co., Ltd. has filed for an IPO on the Shanghai Stock Exchange, according to a regulatory filing. Juewei is planning to issue up to 90 million new shares, and issuing price is yet to be determined. Founded in 2008, Hunan Juewei received RMB260 million (US$42.4 million) investment in 2011 led by Beijing-based private equity firm JD Capital and Fosun Group’s venture capital arm, Fosun Venture Capital Investment.

Asian Private Real Estate Funds Will See Expiration Peak Next Year

About 84 real estate private investment funds in the Asia Pacific will reach the end of their fund life between 2013 and 2016, with fund expiration peaking between 2015 to 2016, according to a study by global property consultancy CBRE Group Inc. CBRE’s predication are based on the typical fund life of eight years. In the run up to the global financial crisis, Asia Pacific experienced a boom of new real estate fund launches.

IDG Capital Exits Chinese Health Site 39.Net Via Strategic Sale

IDG Capital is to fully exit its stakes in Chinese healthcare portal via a strategic sale. A Chinese software developer, Shenzhen-listed Longmaster Information & Technology Co., Ltd. has agreed to acquire 100% of Guangzhou Qisheng Information Technology Limited, which operates, for a total of RMB650 million (US$105 million), according to a regulatory filing submitted by Longmaster.